Spain’s Housing Market Sizzles: Supply Shrinks by 4% in a Year

A recent study published by idealista has unveiled intriguing trends in the Spanish property market.

According to the study, the supply of homes for sale in Spain has experienced a four per cent decrease during the third quarter of 2023 compared to the same period last year, indicating shifts in the country’s real estate landscape.

The majority of Spanish provincial capitals have witnessed a decline in the availability of homes for sale, with notable reductions in Cuenca (-34 per cent) and Ávila (-30 per cent).

Other cities experiencing significant decreases include Huelva, Santander, Valencia, Toledo, Soria, and Tarragona.

However, nine provincial capitals have bucked this trend, with increases in housing supply.

Notable cities include Córdoba and Pamplona (10 per cent increase), followed by Huesca (9 per cent), San Sebastián (8 per cent), Zaragoza (5 per cent), Cádiz (5 per cent), and Badajoz (3 per cent).

Vitoria has maintained a stable housing stock over the past year.

With varied dynamics among the major markets, several cities have witnessed a reduction in housing supply, such as Alicante (-15 per cent), Palma (-11 per cent), Barcelona (-10 per cent), Málaga (-3 per cent), and Madrid (-1 per cent).

Conversely, Bilbao and Seville have experienced slight increases of 2 per cent and 5 per cent, respectively.

At the provincial level, the situation mirrors the dynamics observed in provincial capitals.

Cuenca tops the list with an 18 per cent reduction in housing supply, followed by Santa Cruz de Tenerife (-17 per cent), A Coruña (-16 per cent), and Ávila (-15 per cent).

Notable decreases are also observed in Soria, Lugo, Cantabria, Segovia, Valencia, Teruel, Zamora, and Huelva (-13 per cent in each case).